When contemplating insurance needs, most people take great care in making sure they have a suitable life insurance policy and medical coverage. You might not think you need something like Accidental Death and Dismemberment coverage. As an attorney, your profession doesn’t often put you in harm’s way — you’re not building high rises or doing a physical job that comes with those inherent risks. But the truth is, accidents still happen to people who aren’t taking great daily risks — and here’s why AD&D coverage should be considered in addition to your other insurance policies.
Protect Your Family
Life insurance still pays in the event of an accidental death, so you may wonder why you would need both types of coverage. In the case of an accident resulting in your death, an AD&D policy would provide extra coverage beyond what your life insurance policy covers. AD&D policies are typically less expensive, too, so they are a more cost effective way to increase your coverage in the event of an accident.
Know Your Needs
Another thing to consider when adding to your insurance coverage is your family’s likely need at the time — an accidental death often leaves families unprepared for the sudden loss of income and financial strain. By definition, accidental deaths are not something you can prepare for and, even with excellent life insurance, this is an event that can have long-lasting financial repercussions on the family as a whole.
An additional reason you should consider an AD&D policy lies in the Dismemberment feature of the coverage. Your life insurance policy does not cover permanent injuries and your medical coverage will only aid you in paying bills associated with treating those injuries, not loss of work or any other lifestyle impairment you might suffer from a permanent disability. That is where the Dismemberment coverage can help.